January 2, 2018 / 10:54 PM / in 6 months

S.Korea's Hyundai Heavy says targets sales of $7.52 bln in 2018

SEOUL, Jan 3 (Reuters) - South Korea’s Hyundai Heavy Industries said on Wednesday it targets sales of 7.99 trillion won ($7.52 billion) in 2018.

The world’s second-largest shipbuilder in terms of order book said in a regulatory filing that this target compared to 2017 sales of about 10 trillion won.

Shares in Hyundai Heavy dropped sharply after the shipbuilder said in December it will raise about $1.2 billion via a share issue in a move to bolster its finances before an industry recovery is expected to start in 2019. ($1 = 1,062.2900 won) (Reporting by Joyce Lee; Editing by Cynthia Osterman)

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